Chapter 2 - Strategic Planning & Marketing Environment

Question 1

3 steps in strategic planning process

Answer 1

Planning phase, implementation phase, control phase

Question 2

Planning phase

Answer 2

1. Evaluate external environment (PESTL)Evaluate internal environment (company, competition, partners)
2. Development mission & objectives

Question 3

Implementation phase part 1

Answer 3

Identify opportunities: Segmentation, targeting, positioning

Question 4

Implementation phase part 2

Answer 4

Implement marketing mix (4 Ps)

Question 5

Control phase

Answer 5

Evaluate performance using marketing metrics